While this was designed to comply with the RESPA GFE changes for 2010, which mandate that all origination related costs are put into one box on the GFE — it does open the door for unscrupulous mortgage companies to charge a premium here.
If you are getting a new FHA loan or doing an FHA mortgage [...]
For those clients that need assistance correcting errors or past blemishes on their credit report and would like to work with a professional firm, we recommend the following firm:
CreditMac – www.creditmac.com
CreditMac offers a refreshingly simple and consumer friendly pricing model – they get paid when they deliver results! Visit their site for details.
USDA has raised their credit score requirements to 620 from 580. While that is bad news for some, they have raised their income ceiling dramatically. If you think you make too much money, it may be worth a 2nd look!
We receive many questions about loan modifications. If you are looking to modify your existing loan – whether you have an ARM that has adjusted way beyond your ability to pay, or you have suffered a “hardship”, perhaps we can help get you in the right direction.
Feel free to email/call to discuss [...]
While the 30-year rates on jumbo and super jumbo loans are still north of 6%, ARMs are hot. Depending on your time horizon, rates range from 3.25% to 5.75%. The sweet spot is with the 5-year Arm between 417k and 1mm — 4.625% !!!
The below is a summary I received from one of our investors about the successful mortgage industry coalitition that halted a possible devastating anti-consumer mortgage law from being passed. In this time of turmoil in the financial and credit markets, there are many opportunities for politicians looking to make a name to sponsor new laws [...]
We have been getting significant traffic on our website and inbound calls about rates and jumbo/super-jumbo loans. As of today, there is no strong 30-year fixed pricing for jumbo and super jumbo loans. While you can find rates in the low to mid 6’s, you cannot expect to see the historic rates we are seeing [...]
I had a nice conversation today with a couple who live on the Georgia coast. They had a foreclosure just over 2 years ago, but have truly rebuilt their credit profile. With a 650ish credit score and a solid income, how long before they could buy a home again?
Conventional programs require 4 years now after [...]
To answer one of our more popular questions…..”What type of investor loan rates can I get? ”
Assumptions:
720+ credit score
75% LTV
Purchase or Rate and Term Refinance
Loan Amounts between $150,000 and $417,000
Your wholesale rate for today with 1 origination point: 5.25%
In March, BusinessWeek Magazine named Peachtree City as Georgia’s Best Affordable Suburb. The article notes Peachtree City’s lakes and recreation amenities, along with its 90-mile network of multi-use paths and golf carts.
In choosing the best in each state, BusinessWeek focused on towns within 25 miles of each state’s largest city, featuring good schools, low crime, [...]
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News from the blog
- HUD Removes FHA Mortgage Origination Fee Cap
- Improving your credit score
- USDA Loans – Min Credit Score
- Loan Modifications
- Jumbo and Super Jumbo 5-year ARMS – HOT
- Georgia Senate Bill 57 Defeated!
- Super Jumbo Loans and Mortgage Rates
- Getting a Loan After a Foreclosure – An all too Real Reality for Many Borrowers
- Investor Loan Rates
- Peachtree City Named “Best Affordable Suburb” in all of Georgia
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